Originally Posted by Psychoblues
I maintain the information did not come from the IRS as you said but came from a reichwing rag and is not to be trusted under any circumstances.
But, obviously you do trust it. Great!!!!!!!!!!!! Now take the next step and verify if the IRS indeed said what your pissass article says that they say. I can't promise you that it will be a simple task but I do promise you that you will be enlightened if you just extrapolate and investigate just a bit on your own!!!!!!!!!!!!! You're getting testy and real dumb lately, rsr!!!!!!!!!!!!!
Not that you will read this, but here is another source based on IRS numbers
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Analyzing these numbers in conjunction with data from the Congressional Budget Office is even more instructive. The CBO data includes a breakdown by each 20% of income earners, orquintiles, from the lowest 20% of income earners to the highest 20%. This reveals more clearly what is happening with the tax burdens among the bottom 50% of income earners.
The latest CBO data, for tax year 2005, is shown in Table 2. The top 1% of income earners paid 39% of federal income taxes, while earning 18% of pre-tax income. The top 5% paid 61% of federal income taxes, while earning 31% of pre-tax income. These numbers are very similar to the IRS numbers above.
But the CBO data also shows that the middle 20% of income earners, the true middle class, paid only 4.4% of federal income taxes. The bottom 40% of income earners actually paid a negative 3.8% of federal income taxes. That means they got money back on net from the federalncome tax system, rather than paying money. The top 40% paid 99.4% of federal income taxes,
covering for the negative 3.8% paid to the lowest 40% of income earners.
First, with the top 1% of income earners paying 40% of federal income taxes, almost twice their share of income, the rich certainly seem to be paying their fair share, and then some.
Liberal politicians who say we need to raise taxes on the rich so they will pay their fair share are either abusively misleading the public, or hopelessly ignorant regarding federal tax policy. If 40% is not fair for the top 1%, what would be fair, 50%, 100%?
Secondly, liberal politicians wailing about Republican tax cuts for the rich are also either misleading the public, or hopelessly uninformed. With the top 1% now paying 40% of income taxes, the top 5% paying 60%, and the top 40% paying 99.4%, where are the tax cuts for rich? Clearly, federal income taxes are overwhelmingly paid by upper income earners.
Thirdly, the result of Reagan, Republican tax policy over the last 30 years has been to abolish federal income taxes for the working class, as well as the poor. That is the conclusion to be drawn from the fact that the bottom 40% of income earners pay a negative 3.8% of income taxes, receiving money from the income tax system on net rather than paying into it. That started
with Reagan’s proposal for the Earned Income Tax Credit in the 1970s, before he even became President, which substantially reduced income taxes for these low and moderate income workers.
The child tax credit first proposed by the Heritage Foundation also substantially reduced income taxes for these workers. Moreover, President Reagan’s across the board 25% cut in income tax rates lowered the rates proportionally for these workers as well. President Bush further cut 4
income tax rates for the lowest income taxpayers by 33%, while only reducing income tax rates for the highest income earners by 11%. That certainly did not favor the rich, contrary to so much silly, crass political rhetoric.
Fourthly, the result of Reagan, Republican tax policy over the last 30 years has been to almost abolish federal income taxes for the middle class. That is the conclusion to be drawn from the fact that the middle 20% of income earners pay only 4.4% of federal income taxes. Hillary Clinton falsely said during the Democrat primaries this year that Republicans had cut taxes so
much for the rich that it was hurting the middle class. But in light of the truth, it is hearing thatridiculously false statement coming from a top political leader that hurts.
http://www.atr.org/content/pdf/2008/...hattheypay.pdf
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